Turkey’s Celik Halat ve Tel Sanayi posts net profit for Q1

Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. has announced its financial results for the first quarter of 2012, posting a net profit of TRY 1 million ($570,036).

In the first quarter, the sales revenues of Celik Halat ve Tel Sanayii increased to TRY 32.5 million (approx. $18.5 million), up 3.9 percent compared to the same period of 2011. On the other hand, the producer recorded an operating profit of TRY 1.3 million (approx. $740,000 million) in the given quarter, down 14 percent year on year.

In the first quarter, Celik Halat ve Tel Sanayii produced 14,406 metric tons of steel products, up 6.9 percent year on year.

In the first three months of 2012, product sales of Celik Halat ve Tel Sanayi increased by 4.8 percent year on year to 14,173 metric tons. According to the company's statement, exports accounted for 34 percent of the company's total sales in the given period.